Agrimonetary USCR update 5th November 2009
5th November 2009
The USCR is the “Unofficial Sugar Conversion Rate” between UK Pounds and Euros. The USCR has the potential to change every 14 days depending on the value of Sterling against the Euro and if at 1.30pm every second Thursday that value is more than 1% different (+ or -) compared to the previous fortnight.
<p>STERLING STRENGTHENS AGAINST THE EURO - UK SUGAR PRICES TO DECREASE BY £4.04/T FROM MONDAY 9TH NOVEMBER </p><p>A short time ago the European Central Bank fixed the commercial market value of the €uro at £0.8953 creating a POSITIVE monetary gap against the current artificial "USCR" (£0.9053) of 1.105%, slightly outside the +/- 1% threshold. Therefore,
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